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MidEast Shares Mixed, Dubai Declines on Arabtec

Middle East stocks were mixed, with Dubai slipping for the fourth consecutive day, weighed on Wednesday by losses in Arabtec.

Arabtec tumbled on news Abu Dhabi state fund Aabar Investments had cut its stake Arabtec to 18.85% as of Wednesday from 21.57% on June 8.

Meanwhile, Egypt gained after MSCI said it is no longer considering dropping Egypt from its emerging markets index. MSCI said the decision followed a substantial increase in the country's foreign currency reserves.

Dubai's main index shed 0.6% to 4,665 points, Abu Dhabi firmed 0.1% to 4,876 points, Qatar dipped 0.5% to 12,913 points, Egypt gained 1.7% to 8,709 points, Saudi Arabia lost 0.3% to 9,872 points, Kuwait added 0.4% to 7,279 points, Bahrain edged up 0.7% to 1,457 points and Oman inched higher 0.01% to 6,924 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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